Today's Market : Pharma stocks close on firm footing

Analysed of NSENIFTY and Banknifty

NSENIFTY closed down -22.200 at 7,875.300. Volume was 27% below average (neutral) and Bollinger Bands were 25% narrower than normal.

Open High Low Close Volume___

7,915.800 7,922.700 7,864.050 7,875.300 117,321,408

Technical Outlook

Short Term: Overbought

Intermediate Term: Bullish

Long Term: Bullish

Moving Averages: 10-period 50-period 200-period

Close: 7,742.11 7,656.99 6,767.33

Volatility: 15 16 16

Volume: 112,682,872 140,616,144 162,351,856

NSENIFTY is currently 16.4% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of NSENIFTY at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 5 periods.

BANKNIFTY closed down -42.950 at 15,481.700. Volume was 40% below average (neutral) and Bollinger Bands were 33% narrower than normal.

Open High Low Close Volume___

15,566.750 15,566.750 15,448.900 15,481.700 19,905,172

Technical Outlook

Short Term: Overbought

Intermediate Term: Bullish

Long Term: Bullish

Moving Averages: 10-period 50-period 200-period

Close: 15,111.14 15,191.53 12,775.26

Volatility: 24 24 29

Volume: 21,605,628 27,944,668 33,418,098

BANKNIFTY is currently 21.2% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BANKNIFTY at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BANKNIFTY and have had this outlook for the last 0 periods.